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Stocks Snap Two-Day Drop; Treasuries Trim Losses: Markets Wrap

  • Tech fueled the stock surge as earnings buoyed sentiment
  • After a brief rally, oil fell on a poor demand outlook
Bloomberg business news
Risk Appetite, US Treasury Yields: 3-Minute MLIV
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US stocks snapped a two-day decline on Wednesday as corporate earnings and economic data came in better than expected. Treasuries trimmed losses as traders priced in further interest-rate hikes from the Federal Reserve. 

Solid reports from Moderna Inc. and PayPal Holdings Inc. pushed the Nasdaq 100 up as much as 3%, taking it to a level last seen in May. The S&P 500 closed up 1.6%.